The Global Animal Genetic Products Market is forecast to reach USD 7.84 Billion by 2028, according to a new report by Reports and Data. The market is forecasted to witness an increase in demand due to increase in consumption of animal proteins and rapid increase in urbanization across the globe. To fulfill the rising demand, producers have inclined towards animal genetics to breed high-quality livestock and secure large-scale production. The demand for genetic testing has increased over the years due to the rise in animal diseases, increasing the prevalence of zoonotic diseases and a rise in the trend of companion animals.
Increasing investment in research and development of new drugs and vaccines by both government and private companies is expected to propel the market. The high cost of animal testing, low returns on RD, and concerns about the adverse effect of genetic engineering on animals are some of the restraints limiting the growth of the market.
North America dominates the market for animal genetics product. This is mainly due to the presence of a large number of leading players in the region, along with high and easy adoption and acceptance of the latest technologies. The growing demand for animal protein is further forecasted to drive the market in the region.
Market Overview:
The pharma and healthcare industry is at a crossroads. Patients are benefiting from the promise of cell and gene therapies; uncommon diseases that were previously thought to be incurable are on the verge of finding true treatments. Artificial intelligence (AI) and machine-learning technologies are creating hopes that therapy discovery and development would be more innovative, as well as faster and cheaper. Manufacturing, the supply chain, and the entire healthcare ecosystem all have the potential to benefit from data-driven initiatives. Consumer attitudes and behaviors are shifting in a variety of ways, from the growing use of technology and willingness to share data to an interest in using tools to make prescription and treatment decisions. Such factors will drive pharma and healthcare market growth in the coming years.
Key Players covered in this report are:
Genus Plc, Hendrix Genetics BV, Alta Genetics, CRV Holdings B.V., Neogen Corporation, VatGen, Animal Genetics Inc., Zoetis, Urus, and Envigo among
Live Animals Outlook (Revenue, USD Billion; 2018-2028)
- Porcine
- Poultry
- Canine
- Bovine
- Others
Genetic Material Outlook (Revenue, USD Billion; 2018-2028)
- Embryo
- Semen
Testing Services Outlook (Revenue, USD Billion; 2018-2028)
- Genetic Diseases tests
- Genetic Trait Tests
- DNA Typing
- Others
Based on Region market is segmented into:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East Africa
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Major Points covered in this report are as below:
• The Animal Genetic Products industry development trends and marketing channels are analyzed. The feasibility of new investment projects is assessed and overall research conclusions are offered.
• With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
• Development policies and plans, manufacturing processes, and cost structures are also analyzed. This report also states import/export consumption, supply and demand figures, cost, price, revenue, and gross margins.
• The Animal Genetic Products Market report provides key statistics on the market status of the Animal Genetic Products manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
We can also provide customized data for separate regions like North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central South America, Brazil, Argentina, Rest of South America, Middle East Africa, Saudi Arabia, Turkey, Rest of Middle East Africa
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